North America Robo Advisory Market Size, Share & Industry Trends Analysis Report By Provider, By End User (High Net Worth Individuals and Retail Investor), By Service Type, By Type, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Robo Advisory Market would witness market growth of 29.2% CAGR during the forecast period (2022-2028).
Investment management robo-advice is regarded as a breakthrough in the formerly exclusive wealth management services since it makes the services accessible to a wider audience at a cheaper cost in comparison to conventional human assistance. Robo-advisors estimate the client's risk tolerance by gathering information about the client's current financial status. The client's risk choices and intended target return are taken into account when the robo-advisor decides how to distribute the client's assets.
Although robo-advisors are capable of investing client assets in a wide variety of financial instruments, including stocks, bonds, futures, commodities, and real estate, the advice they provide most commonly focuses on exchange-traded funds (ETFs). The client has the option of selecting a product that either employs passive asset allocation strategies or active asset management philosophies.
A robo-advisor is a "self-guided online wealth management service that employs portfolio management algorithms to deliver automated investment advice at cheap prices and low account minimums." This definition describes robo-advisors as "a self-guided online wealth management service." Certain types of automated financial advisers do incorporate some human oversight and interaction.
Increasing investment in blockchain technology in North America. In recent years, several blockchain development projects have been initiated in the United States, accelerating the market's growth. In addition, this region is home to a significant number of small and medium-sized technology-based firms. In addition, great progress has been made in the integration of public vital services with BaaS solutions, which is anticipated to create new growth prospects for the robo advisory over the next few years. BaaS is a cloud-based architecture that assists enterprises in developing and operating blockchain applications.
The US market dominated the North America Robo Advisory Market by Country in 2021; thereby, achieving a market value of $6.3 billion by 2028. The Canada market is experiencing a CAGR of 32.2% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 31% during (2022 - 2028).
Based on Provider, the market is segmented into Fintech Robo Advisors, Banks, Traditional Wealth Managers and Others. Based on End User, the market is segmented into High Net Worth Individuals and Retail Investor. Based on Service Type, the market is segmented into Direct Plan-based/Goal-based and Comprehensive Wealth Advisory. Based on Type, the market is segmented into Hybrid Robo Advisors and Pure Robo Advisors. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Robo Advisory Market is Estimated to reach $24 Billion by 2028, at a CAGR of 29.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Wealthify Limited (Aviva plc), The Charles Schwab Corporation, Betterment LLC, Fincite GmbH, Wealthfront Corporation, The Vanguard Group, Inc., Ellevest, Inc., Ginmon Vermögensverwaltung GmbH, SigFig Wealth Management, LLC and Social Finance.
Scope of the Study
Market Segments Covered in the Report:
- Fintech Robo Advisors
- Traditional Wealth Managers
By End User
- High Net Worth Individuals
- Retail Investor
By Service Type
- Direct Plan-based/Goal-based
- Comprehensive Wealth Advisory
- Hybrid Robo Advisors
- Pure Robo Advisors
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Wealthify Limited (Aviva plc)
- The Charles Schwab Corporation
- Betterment LLC
- Fincite GmbH
- Wealthfront Corporation
- The Vanguard Group, Inc.
- Ellevest, Inc.
- Ginmon Vermögensverwaltung GmbH
- SigFig Wealth Management, LLC
- Social Finance
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